‘Respectable’ results see Schroders AUM hit record
Better-than-expected institutional net flows helped push group assets under management to a record £325bn ($473.6bn, €418.7bn) in the first quarter of 2016, Schroders said on Thursday.
Wealth Management
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UAE regulator SCA extends scope to cover financial planning
The Securities and Commodities Authority (SCA) in the UAE has amended its regulations to enable licenced advisers to offer clients a full financial planning service, creating a “distinct line” between its remit and that of the Insurance Authority.
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Australia’s NAB restructures HNW business
The National Australia Bank Group, one of the country’s big four banks, has restructured its high net worth (HNW) business, which will see its private banking arm renamed NAB Private.
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Returns on China’s WM products to shrink
A lack of quality investment targets will pose a challenge for Chinese wealth managers this year, a new report by Cerulli Associates said.
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Asset and wealth mgt confidence hit by volatile markets
The asset and wealth management industry has seen its first significant fall in confidence since the winter of 2011, according to a joint report from the CBI and PwC.
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UBS WM reports Asia income growth
UBS Wealth Management, part of Swiss bank UBS, said income from its Asian operations rose in 2015 while other regions were down.
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EFG opens onshore business in Chile
Swiss private banking group EFG International was granted regulatory approval this week to open an onshore business in Santiago, Chile.
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SocGen buys Kleinwort Benson to create WM behemoth
Societe Generale has agreed to buy Kleinwort Benson’s UK and Channel Islands wealth management businesses for an undisclosed sum.
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Vestra to be majority owned by Switzerland’s LGT
Vestra Wealth is to become majority owned by Swiss wealth manager LGT after it struck a deal to acquire shares in the business from Vestra’s external investors.
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Harwood Wealth announces IPO, targets AIM listing
Harwood Wealth Group, a UK-based discretionary wealth manager, said on Friday it plans to launch an initial public offering and list on the AIM market of the London Stock Exchange.
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Survey: Investors want transparency
Both retail and institutional investors agree that financial professionals are falling short on the related issues of transparency and fees, according to a CFA Institute survey report.
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Custodian on the evolution of the life insurance market
Tom Olander, a director of Custodian Life, talks clients, technology, growth and the trends that are now shaping the life insurance market.